Compliances

Business owners are justifiably concerned about business impacts, associated costs, and timescale around meeting regulatory compliances (including safety standards), however we must act now to prepare for the changes and obligations ahead.

So, if you are interested in seeking such loans, remember that important documents such as your business registration, National Insurance Scheme (NIS) and Guyana Revenue Authority (GRA) compliances are imperative.

According to Sanjay Nayar, President of Assocham, this would help simplify compliances in the hands of such taxpayers by computing income on a predetermined basis, thereby reducing the apprehension of tax disputes and litigation.

The Commission likewise mandated the system operator, the National Grid Corporation of the Philippines (NGCP), to harmonize the timeline of its submission of non-compliances to the Iemop.

The Centre has also directed the extension of timelines for various statutory compliances under RERA concurrently.

On Friday, NSE forwarded a preliminary report to Sebi on the non-compliances observed with respect to the pledging/misuse of client securities by KSBL.

GDP has fallen, revenues have shown an alarming fall, inflation is rising and there is near furore relating to complexities in compliances,” he said.

Uncertainty regarding return filings, invoice matching etc is a cause for worry for industry as this creates a problem on how to prepare for compliances,” Saloni Roy, Senior Director, Deloitte India said.

We continue to target completion in the fourth quarter as we work with the utilities of gas and electric and monitoring their progress through regulatory compliances.